Candela Reaches Settlement With University of California and New Star Lasers.Business Editors & Health/Medical Writers WAYLAND, Mass.--(BW HealthWire)--Aug. 14, 2000 Candela candela (kăndĕ`lə), in weights and measures: see candle. A unit of measurement of the intensity of light. Part of the SI system of measurement, one candela (cd) is the monochromatic radiation of 540THz with a radiant intensity Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CLZR), a leading developer of aesthetic laser systems, announced today that it has settled all litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. surrounding its Dynamic Cooling(TM) Technology. The company said that all parties involved have agreed to exchange full and general releases of all claims. Under the settlement, Candela improved its rights to Dynamic Cooling Technology in the fields of use applicable to the Company's products. Going forward the Company and the Regents of the University of California The Regents of the University of California make up the governing board of the University of California. The Board has 26 full (i.e., voting) members:
Also under the agreement, New Star Lasers (a.k.a. COOLTOUCH) will be licensed for procedures related to the removal of telangiectasia telangiectasia /tel·an·gi·ec·ta·sia/ (tel-an?je-ek-ta´zhah) permanent dilation of preexisting small blood vessels, creating focal red lesions. and skin rejuvenation Rejuvenation Aeson in extreme old age, restored to youth by Medea. [Rom. Myth.: LLEI, I: 322] apples of perpetual youth by tasting the golden apples kept by Idhunn, the gods preserved their youth. [Scand. Myth. , as well as for use in procedures utilizing a long pulse ND YAG laser. Any royalties emanating from the New Star licensing will be split evenly between Candela and the Regents of the University of California. Gerard E. Puorro, President and Chief Executive Officer of Candela said, "We are delighted to complete this settlement and remove any uncertainty as to our retention of this technology." Puorro added, "We are especially pleased that we will be able to reaffirm our technological partnership with Beckman Laser Institute at the University of California The University of California has a combined student body of more than 191,000 students, over 1,340,000 living alumni, and a combined systemwide and campus endowment of just over $7.3 billion (8th largest in the United States). ." About Candela Candela Corporation develops, manufactures, and distributes innovative clinical solutions that enable physicians, surgeons, and personal care practitioners to treat selected cosmetic and medical conditions using lasers, aesthetic laser systems, and other advanced technologies. Founded near Boston in 1970, the company markets and services its products in over 40 countries from offices in the United States, Europe, and Asia. Candela established the aesthetic laser market 12 years ago, and currently has an installed base of over 4,000 lasers worldwide. More than 500,000 aesthetic laser procedures are performed annually with Candela laser systems. Candela is an Equal Opportunity and Affirmative Action Employer, M/F/H/V M/F/H/V Male/Female/Handicapped/Veteran (employment) . This press release includes certain forward-looking statements. Any such statements are subject to risks that could cause the actual results to vary materially, including negative developments relating to unforeseen order cancellations or push-outs, Candela's strategic relationships, the impact of intense competition, and changes in the laser industry. |
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